Date
19 October 2017
Premier Li Keqiang blamed global weakness and China’s economic transition for the recent volatility of “economic indicators”. Photo: Reuters
Premier Li Keqiang blamed global weakness and China’s economic transition for the recent volatility of “economic indicators”. Photo: Reuters

Li Keqiang: No hard landing for China

Chinese Premier Li Keqiang sought to allay concerns over China’s slowing economy, saying it is in good hands, reforms are on track and recent market volatility wouldn’t affect the country’s growth path.

Speaking at the World Economic Forum in the northeast city of Dalian on Thursday, Li didn’t mention the stock market directly and offered few details on how reform would unfold, the Wall Street Journal reported.

Instead, he blamed global weakness and China’s economic transition for the recent volatility of “economic indicators”, the newspaper said.

Top business leaders who attended a closed-door meeting with the premier said he appeared confident even as he deflected or soft-pedaled tough issues, including those related to China’s handling of the recent market turmoil, the report said.

Li has led plans for economic reforms, but the results have been slow in coming, analysts said.

“Li Keqiang could become the fall guy. It’s dented his credibility,” said Xi Li, a professor of business at the Hong Kong University of Science and Technology.

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RA/CG

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